Updates Rhodium Assay and Metallurgical Drilling Programmes
New Age Metals Inc. (TSXV: NAM; OTCQB: NMTLF) ; FSE: P7J.F) has provided an update on its rhodium assay and metallurgical drilling programmes at its 100% owned River Valley Palladium Project, located 100 km east of Sudbury, Ontario.
These studies are being carried out as key components of a Pre-Feasibility Study (PFS) of the River Valley Project.
The purpose of the rhodium (Rh) assay programme is to generate data with which to evaluate whether Rh could be a payable metal for any potential mining operation at River Valley. Due to the expense of the analyses, the Rh assay programme will be multi-phase. In phase 1 (2020), new Rh data were generated for 2015 to 2020 drill core from the Pine Zone. Historical data are available for the Dana North Zone.
In Phase 2 (the current phase), Rh data will be generated for the Lismer North Zone (aka Lismer Extension Zone). To this end, samples from eight mineralised intervals in four diamond drill cores on a key cross-section have been selected for Rh assay analysis. The historical drill cores have been sampled and the 189 samples (plus blind QC) delivered to Geo Labs in Sudbury for preparation and high-sensitivity assay analysis. Assay results are expected in September. As of June 9, 2021, Rh is trading for US$19,800/oz.
The metallurgical drilling is being carried out to sample fresh material for mineral processing and metallurgical studies as part of the ongoing Pre-Feasibility Study of River Valley.
Four holes are planned; one each on the Dana North Zone, Dana South Zone, Lismer North Zone and Lismer Ridge Zone. Each hole will be HQ size and drilled down through at least 200 metres of PGM-Cu sulphide mineralisation, in order to provide plenty of material for comprehensive metallurgical studies.
At this point, metallurgical hole DN-21-01m has been completed on the Dana North Zone and hole DS-21-01m is drilling on the Dana South Zone, 0.5 km to the south. Metallurgical holes LN-21-01m and LR-21-01m will be drilled on the Lismer North Zone and the Lismer Ridge Zone, respectively.
The metallurgical drill programme is planned to be completed before the end of June. The samples will be sent to SGS for assay, compositing and metallurgical studies and to Geo Labs for Rh assay analysis.